Jan 302015
 January 30, 2015
IRS Tax Memo Will Hurt Marijuana Businesses

I always say, if you are in the marijuana industry, or are trying to get into the marijuana industry, you better know about 280e reform. 280e is a federal tax provision that prevents businesses from making deductions for activities that involve banned controlled substances. Most businesses can’t survive without tax deductions, and when it comes to marijuana businesses, the tax code is far from friendly. There was a loophole that some marijuana businesses were using to make deductions related to expenses of ‘cost of good sold.’ That loophole was closed recently by the IRS, which will cost the industry hug

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Jan 292015
 January 29, 2015
Rep. Blumenauer Demands Answers From FDIC About Marijuana Banking

Today, Representative Blumenauer sent a letter to Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg asking for clarification on what guidance the FDIC provides to banks who offer financial services to marijuana-related businesses, and what role, if any, the FDIC played in M Bank’s decision to abruptly suspend operations in Colorado. Last week, M Bank publically announced it would offer banking services to marijuana businesses in Colorado, only to abruptly reverse course a week later. A Denver Post article from January 26, 2015 cites industry insiders familiar with the situation claiming that the FDIC stepped in to warn M Bank executives

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Jan 292015
 January 29, 2015
Why Are There So Many Pissing Contests In The Marijuana Industry/Movement?

I first got involved in marijuana activism in 1998 when Oregon activists campaigned for, and passed, medical marijuana legalization. I was in high school at the time, and did the best I could to raise awareness for the effort, attended some gatherings, and posted newspaper articles in my locker (which didn’t go over well with my high school obviously!). It wasn’t the most dominant activist effort of all time, but it was what I could do at the time given the restraints of being a minor in high school. I dramatically stepped up my activism when I co-founded this blog

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Jan 282015
 January 28, 2015
The Marijuana Industry Could Become Larger Than The Organic Food Industry

This week saw the release of a report by the ArcView Group which showed that the marijuana industry is the fastest growing industry in America. The marijuana industry is growing so fast and will likely become so large that it could eventually get bigger than the organic food industry. I eat a lot of organic foods, as does a lot of my family and friends, and to think that an industry that once only operated in the shadows could rise to that level is outstanding. Per the Huffington Post: Legal marijuana is the fastest-growing industry in the United States and

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Jan 272015
 January 27, 2015
Oregon Bank Will Not Work With Colorado Cannabis Industry Afterall

MBank, a financial institution from Oregon, made headlines last week when they announced that they would be servicing Colorado’s marijuana industry. MBank had already been working with Oregon’s cannabis industry and Washington’s, and appeared to be making the bold move of working with Colorado marijuana business owners as well. In a quick change of policy, this week MBank announced that the would actually have to pass on the opportunity with Colorado companies, which were very eager to get bank accounts with MBank. Per The Cannabist: The Oregon community bank that a week ago openly welcomed Colorado marijuana industry customers has

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Jan 272015
 January 27, 2015
Outgoing Illinois Gov. Issues Medical Marijuana Business License Recommendations

Outgoing Illinois Governor Pat Quinn has failed to issue medical marijuana licenses while in office and has no plans to do so while he is Governor. This despite the State of Illinois collecting over five million dollars in non-refundable fees, via a process that’s been shrouded in mystery. Meanwhile patients are left with no medicine, and no answer as to when to expect medicine. Incoming Governor Bruce Rauner has stated that his administration will look at the process of approving up to 21 cultivation centers, and up to 60 dispensaries, but he also said on the campaign trail that he would

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Jan 262015
 January 26, 2015
Legal Marijuana Is The Fastest Growing Industry In The U.S.

ArcView Market Research released the executive summary to the 3rd edition of the State of Legal Marijuana Markets report today finding that the U.S. market for legal cannabis grew 74% in 2014 to 2.7 billion, up from 1.5 billion in 2013 making it the fastest growing industry in the U.S. The report also shows that if trends continues and all states legalized marijuana the total market size would top 36.8 billion, making it larger than the organic food industry which is 33.1 billion according to Nutrition Business Journal.  In San Francisco today and tomorrow, The ArcView Group is hosting it’s

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Jan 262015
 January 26, 2015
Marijuana Meets Tech Investment At Cannabis Industry "Arc Tank"

On the heels of major VC Peter Theil and Founders Fund investing into the cannabis sector, more than 275 high net worth investors from around the world will gather in San Francisco for a ‘Shark Tank’ – like pitch forum on Monday, January 26th and Tuesday, January 27th hosted by The ArcView Investor Network. Investor members of the network will be reviewing pitches from more than 20 cannabis-related companies seeking funding. Justin Kan, who recently sold his company Twitch.tv to Amazon for close to $1 billion and who is now a partner at the tech industry’s top business incubator, Y

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Jan 262015
 January 26, 2015
Marijuana Taxes in Washington Could Get Lowered

When Washington rolled out legal recreational marijuana sales last year, a lot of customers got sticker shock. Some of my friends were reporting grams costing $25 and higher. A lot of that was due to the fact that there weren’t many producers operating at the time, so supplies were very low. However, another big contributing factor is taxes. As supplies flooded the market, prices dropped, but they are still around $15 per gram due to Washington’s high tax rate on marijuana. It sounds like there may be some tax relief on the way. Per Marijuana Business Daily: Washington State recreational

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Jan 242015
 January 24, 2015
Washington Judge Rules Medical Marijuana Advertising Ban Unconstitutional

Advertising rules in Washington State against medical marijuana advertising have been harsh. Doctors and other healthcare professionals have been banned from even mentioning marijuana in advertisements. A Washington Judge recently ruled that such a ban is unconstitutional. Per The Joint Blog: Pierce County Superior Court Judge Elizabeth Martin has ruled that it’s unconstitutional for the state to ban doctors and other healthcare professionals from mentioning or showing cannabis in advertisements. In her ruling, Judge Martin found that the state’s law banning cannabis advertisement violates both state and federal law by curtailing free speech. “I find the statute impermissibly overbroad as it

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